USD/JPY Extends Losses, Recovery Could Face Hurdles
Key Highlights USD/JPY extended its decline below the 103.50 support. A major bearish trend line is forming with resistance near 103.80 on the 4-hours chart. The US Initial Jobless Claims in the week ending Jan 16, 2021 declined from 926K...
USDCHF’s Bullish Pressures Pause around Vicinity of 200-MA
USDCHF has poked back underneath the 200- and 100-period simple moving averages (SMAs) at 0.8866 and 0.8857. Its recent attempts to decisively surpass the 200-period SMA have ended up consolidating the price around it, thus keeping hopes of the bear...
USD/JPY Trades Below 103.60
Yesterday, the USD/JPY currency pair breached the symmetrical triangle pattern south. Given that the exchange rate is pressured by the 55-, 100– and 200-hour moving averages in the 103.80 area, it is likely that some downside potential could continue to...
USD/CAD Technical Outlook: Is it Time for a Long-Term Change in Tend?
As with any currency pair, there are an abundance of factors to consider when trying to forecast price. Those factors can be broken down into technical factors and fundamental factors. On the technical side, price action is paramount. However, for USD/CAD,...
EUR/USD Could Trade Downwards
On Tuesday, the EUR/USD currency pair broke the falling wedge pattern. Also, the pair has revealed a medium-term descending channel. From a theoretical point of view, it is likely that the exchange rate could trade downwards within the predetermined channel...
EURUSD 1.2150 Now Key
The euro currency continues to correct higher against the US dollar, as traders react to Italian Prime Minister Conte winning a vote of confidence in the Italian parliament. Continued gains above the 1.2150 level could see the EURUSD pair testing...
GBP/USD Outlook: UK Inflation Data Could Provide Clearer Near-Term Direction Signal
Cable is standing at the front foot on Tuesday, following strong downside rejection previous day and inflated by fresh risk sentiment that weakened dollar. Larger uptrend remains intact despite double failure at 1.3700 zone, as subsequent dips stay above rising...
Kiwi Rises as Business Confidence Improves
The New Zealand dollar has posted gains in the Tuesday session, erasing the losses seen on Monday. Currently, NZD/USD is trading at 0.7126, up 0.320 on the day. NZ business confidence improves There was good news from the New Zealand...
GBPUSD Bulls Retain Footing Despite Pullback
GBPUSD managed to calm bearish forces around the 20-day simple moving average (SMA) once again following the latest rejection from the 1.3700 level, hinting that bullish appetite has not fully faded yet. In the near-term, the consolidation phase may continue...
US 500 Index Fades from Recent All-Time High of 3,831
The US 500 index (Cash) is finding a foothold in the Ichimoku cloud, on the 100-period simple moving average (SMA) at 3,756, after the index receded from its latest all-time high of 3,831 under the 50-period SMA. All climbing SMAs...
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